Principal Financial Group Inc. Increases Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Principal Financial Group Inc. raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,651 shares of the company’s stock after purchasing an additional 490 shares during the period. Principal Financial Group Inc. owned 0.05% of Construction Partners worth $2,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in shares of Construction Partners during the first quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $66,000. Golden State Wealth Management LLC lifted its stake in shares of Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company’s stock valued at $81,000 after buying an additional 563 shares during the period. Amalgamated Bank lifted its stake in shares of Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company’s stock valued at $114,000 after buying an additional 129 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $146,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Trading Down 4.6%

NASDAQ ROAD opened at $107.57 on Friday. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $114.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.42 and a quick ratio of 1.13. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 91.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96. The company’s fifty day moving average price is $104.65 and its two-hundred day moving average price is $88.16.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reduced their price objective on shares of Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 29th.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.